In response to the significant prospects in Saudi Arabia’s healthcare industry for investors and developers, Dubai-based Gulf Islamic Investments LLC (GII) recently purchased a majority position in Almeswak Dentistry Clinics, the Kingdom’s leading supplier of dental and dermatology treatment.

The Almeswak acquisition from private equity firm Jadwa Investment Co was valued at $530 million, according to a news release from JLL.

“This landmark transaction is a major milestone for our continued growth and investment in the ever-expanding and exciting healthcare sector in Saudi Arabia. We’re delighted to partner with JLL on this strategic transaction to support our growing commitment to this market, where we continue to look for long-term value opportunities,” said Mohammed al-Hassan, Co-CEO and Co-Founder of GII.

JLL, a leading professional services firm specialized in real estate, investment management, and development consultancy services, provided buy-side commercial advisory to GII for the landmark deal.

The transaction also underscores the growing appeal of healthcare assets across the wider GCC region where the medical sector has been booming led by an improvement in incomes and government investment in medical infrastructure for their citizens.

New era of opportunities

“The healthcare sector in the Kingdom is entering a new era of opportunities, driven not only by the goals outlined by Saudi Vision 2030 to enhance the quality of life, but also the government’s focus on boosting healthcare infrastructure,” said Sandeep Sinha, Head of Healthcare Consulting – MEA, JLL.

“Saudi Arabia is witnessing an increase in private investment into the sector, with several upcoming healthcare PPP projects. Demonstrating our market knowledge, we provided in-depth investment advisory in driving the deal. This is a strong testament to the growing investor interest in the Kingdom’s healthcare industry,” Sinha said.

“The Kingdom’s rapidly increasing healthcare sector offers many attractive opportunities for investors as the largest healthcare market in the Gulf region. We look forward to tapping into its significant potential and further expanding our footprint as we explore a number of unique growing opportunities,” added Pankaj Gupta, Co-CEO and Co-Founder of GII.